Individual, organizations relating to Sacombank acquisition divesting
Individual, organizations relating to Sacombank acquisition divesting
After financial organizations relating to the acquisition of Sacombank offloaded the bank’s shares, a related individual has taken the same move.
Tram Trong Ngan, the son of a member of Sacombank’s board of directors, has registered to sell 48 million shares of the bank, coded STB on the Ho Chi Minh City Stock Exchange, according to the bank’s official announcement about relevant internal share trading.
Ngan, the eldest son of Tram Be, also the board’s deputy chairman, will sell all the STB shares he owns, equivalent to a 4.93 percent stake of Saigon Thuong Tin Commercial Joint Stock bank, better known as Sacombank, according to the information published on the bank's website.
The transaction is expected to be implemented from December 20 to February 20, under negotiation or order matching trading.
Tram Be currently holds 115,000 shares of STB.
Ngan is currently the board chairman of Southern Securities Joint Stock Co, coded PNS on the Over The Counter (OTC) floor, and Standing Vice Chairman of Southern Commercial Joint Stock Bank.
STB share ended the Monday morning trading session at its ceiling, VND19,800 per share, up VND800 (4.2 percent) day on day , with about 293,000 shares successfully traded.
According to previous information, 8 million shares out of the 48 million STB shares were bought by Ngan in late June.
Ngan’s younger brother, Tram Khai Hoa, a board member of Sacombank, on September 20 was fined for buying listed stocks without public disclosure.
The Southern Securities Joint Stock Corp, of which Hoa is board chairman, was also fined for selling – again, without disclosing to the public – 2 million STB shares from September 6 to September 10.
Both father and son were elected members of Sacombank’s board of directors from May 2012.
Saigon Exim Investment Corp on September 12 registered to sell 3 million STB shares to reduce the amount of shares it owned from 50.355 million shares to 47.355 million shares, equivalent to a reduction from a 5.17 percent to 4.86 percent Sacombank stake.
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